Market Update - February 3, 2014

CBOT futures are higher on export news and demand optimism. Corn futures broke above chart resistance. Wheat futures are extending the rally off contract lows that began last week.

Livestock futures are sharply lower in the early-2014 contracts as beef and pork values slide. The sharp selloff in US equity prices also adds concern for meat demand if the US economy is weakening. The VIX Index is up sharply indicating more “fear” by investors that values could change abruptly. Treasury yields are lower as money seeks the “safety” of US treasuries.